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[Federal Register Volume 89, Number 245 (Friday, December 20, 2024)]
[Notices]
[Page 104276]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-30352]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-101927; File No. SR-CboeBYX-2024-009]

Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proceedings To 
Determine Whether To Approve or Disapprove a Proposed Rule Change, as 
Modified by Amendment No. 1, To Amend Exchange Rule 11.25(e) To Allow 
Users To Utilize the Exchange's Match Trade Prevention Functionality 
When Entering Periodic Auction Orders Onto the Exchange for Execution

December 16, 2024.
    On June 6, 2024, Cboe BYX Exchange, Inc. (``Exchange'') filed with 
the Securities and Exchange Commission (``Commission''), pursuant to 
Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ 
and Rule 19b-4 thereunder,\2\ a proposed rule change to amend Exchange 
Rule 11.25(e) to allow Users to utilize the Exchange's Match Trade 
Prevention functionality when entering Periodic Auction Orders onto the 
Exchange for execution. The proposed rule change was published for 
comment in the Federal Register on June 21, 2024.\3\ On August 5, 2024, 
the Commission extended the time period within which to approve, 
disapprove the proposed rule change, or institute proceedings to 
determine whether to approve or disapprove the proposed rule change to 
September 19, 2024.\4\ On September 18, 2024, the Exchange filed 
Amendment No. 1 to the proposed rule change.\5\ On September 19, 2024, 
the Commission issued notice of the proposed rule change, as modified 
by Amendment No. 1, and simultaneously instituted proceedings under 
Section 19(b)(2)(B) of the Act \6\ to determine whether to approve or 
disapprove the proposed rule change, as modified by Amendment No. 1 
(``Order Instituting Proceedings'').\7\
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    \1\ 15 U.S.C.78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 100337 (June 14, 
2024), 89 FR 52148 (``Notice'').
    \4\ See Securities Exchange Act Release No. 100649, 89 FR 65420 
(August 9, 2024). The Commission has received no comment letters on 
the proposed rule change.
    \5\ Amendment No. 1 modifies the proposed rule change by: (1) 
amending rule text relating to Exchange Match Trade Prevention 
functionality when entering Periodic Auction Orders onto the 
Exchange for execution; and (2) adding new rule text describing how 
the Exchange will handle Periodic Auction Orders entered as a 
Minimum Quantity Order with a Match Trade Prevention modifier.
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 101105, 89 FR 78418 
(September 25, 2024).
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    Section 19(b)(2) of the Act \8\ provides that, after initiating 
proceedings, the Commission shall issue an order approving or 
disapproving the proposed rule change not later than 180 days after the 
date of publication of notice of filing of the proposed rule change. 
The Commission may extend the period for issuing an order approving or 
disapproving the proposed rule change, however, by not more than 60 
days if the Commission determines that a longer period is appropriate 
and publishes the reasons for such determination. The proposed rule 
change was published for notice and comment in the Federal Register on 
June 21, 2024.\9\ December 18, 2024 is 180 days from that date, and 
February, 16, 2025 is 240 days from that date.
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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See Notice, supra note 3.
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    The Commission finds it appropriate to designate a longer period 
within which to issue an order approving or disapproving the proposed 
rule change, as modified by Amendment No. 1, so that it has sufficient 
time to consider the proposed rule change, as modified by Amendment No. 
1. Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\10\ designates February 16, 2025 as the date by which the 
Commission shall either approve or disapprove the proposed rule change, 
as modified by Amendment No. 1 (File No. SR-CboeBYX-2024-009).
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    \10\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(57).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-30352 Filed 12-19-24; 8:45 am]
BILLING CODE 8011-01-P
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